Marijuana Price Dips to $1,655 a Pound
For the week ended Friday, April 14, 2017, the spot price index for a pound of cannabis decreased by 1.4% from $1,679 in the prior week to $1,655. According to the analysts at Cannabis Benchmarks, the simple average price for a gram also fell, from $4.00 to $3.98.
The futures price for the near-month (May) remained unchanged at $1,750. For the month of June, the forward price also remained unchanged at $1,725. The six-month forward price (October) dropped from $1,535 a pound to $1,460.
About two-thirds of the past week’s transactions occurred in a range of $1,099 to $2,514 per pound.
The analysts had commented this week on a new seed-to-sale tracking system coming in the state of Washington:
A report from Marijuana Business Daily (MBD) states that the [Liquor Control Board] LCB is in the process of accepting bids for a new plant and inventory tracking system. According to the report, bids are due by April 26th and the LCB intends to have the new tracking system in place by the end of October. Notably, the report states that the current seed-to-sale tracking software and service provider – BioTrackTHC – will not be submitting a bid for the new contract, quoting BioTrack’s CEO Patrick Vo on the matter. As such, it appears at the moment that a significant alteration to Washington’s legal cannabis system could take place in the thick of the fall harvest season.
Indoor flower prices ranged from $800 to $6,400 per pound, with the median price at $2,000. Greenhouse flower prices ranged from $987 to $3,250 per pound, and the median price was $1,305. Outdoor flower prices ranged from $700 to $1,800 per pound; the median price was $1,400.
For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.
We also have a detailed look at the first cannabis industry exchange traded fund. Horizons Medical Marijuana Life Sciences ETF began trading on the Toronto Stock Exchange recently under the ticker symbol HMMJ.
Our price check at MJCharts indicates prices range from $22.00 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $11.07 per gram, down two cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $12.02, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $14.42 per gram, ranging from $22.00 down to $11.00 per gram, while in Oregon the average is $11.00 per gram in a range of $21.00 to $3.00. Data for Michigan and Washington state were not available.